Table of Contents
Introduction
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- Key themes of the report
- Definition
- Data sources
- Abbreviations
Executive Summary
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- Market factors
- Mobile device ownership increases across Ireland
- Ireland’s mobile internet infrastructure to go 4G
- IT issues continue to plague RBS Group in 2013
- Increase in online banking fraud and phishing attacks a concern for consumers and industry
- Irish consumers increasingly using contactless payments
- Online and mobile banking innovations
- The consumer
- PC and laptops the most frequently used channel for accessing banking facilities
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- Figure 1: How often consumers access banking facilities through different channels and means, by all demographics, NI and RoI, October 2013
- Basic banking activities accessed remotely, complex services in-branch
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- Figure 2: Means used to access banking facilities, by all demographics, NI and RoI, October 2013
- Convenience of online and mobile banking a positive for Irish consumers
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- Figure 3: Agreement with statements relating to online banking, by all demographics, NI and RoI, October 2013
- What we think
Issues in the Market
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- What are Irish consumers’ attitudes towards online and mobile banking?
- How often do Irish consumers access banking services through online and mobile devices?
- What type of services do Irish consumers access most often through online and mobile devices?
- What are the alternatives to technology-facilitated payments?
- Are online security concerns affecting Irish consumers’ decisions to bank online and through mobile devices?
Trend Applications
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- Trend: Return to the Experts
- Trend: FSTR and HYPR
- Mintel Futures: Generation Next
Market Overview
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- Key points
- Steady increase in smartphone ownership in Ireland
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- Figure 4: Consumers who own, or have access to mobile technology devices, NI and RoI, October 2013
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- Figure 5: Ownership of smartphone devices, RoI, 2012 and 2013
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- Figure 6: Ownership of smartphone devices, NI, 2011 and 2012
- Tablet ownership also grows throughout Ireland
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- Figure 7: Ownership of tablet computers, NI, 2011-13
- Figure 8: Ownership of tablet computers, RoI, July 2012-August 2013
- Irish mobile internet infrastructure improving
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- Figure 9: How consumers access the internet, NI and RoI, September 2009, July 2012 and October 2013
- Apps and applications offer mobile banking services
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- Figure 10: Activities consumers would like mobile banking apps to perform, RoI, May 2012
- Further IT issues for RBS Group
- Online banking fraud increases 12% from 2011-12, but is still lower than 2009 levels
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- Figure 11: Online banking fraud losses, UK (including NI), 2004-12
- Banks and law enforcement stepping up security measures to combat fraud
- Current account switching becomes quicker and easier
- Contactless payments increase in Ireland
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- Figure 12: Agreement with statements relating to contactless card technology, by all demographics, NI and RoI, October 2013
Competitive Context
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- Key points
- Usage of cheques continues decline in 2012
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- Figure 13: Check clearing value, £ billions, UK (including NI), 2006-12
- Figure 14: Cheque clearing volumes, UK (including NI), 2006-12
- Cheques also declining as a payment method in RoI
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- Figure 15: Value of cheques and other paper debit instruments, € millions, RoI, 2004-12
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- Figure 16: Volume of cheques and other paper debit instruments, millions, RoI, 2004-12
- Cash usage rises in UK (including NI) and declines in RoI
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- Figure 17: Value of cash withdrawals via ATMs, UK (includingNI) and RoI, 2006-12
Strengths and Weaknesses
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- Strengths
- Weaknesses
Online and Mobile Banking Innovations
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- Examples of innovation
- RBS launches text-to-pay app
- Halifax taps into digital vouchering trend
- Mobile banking through Facebook app
The Consumer – Frequency with which Banking Services are Accessed Through Online and Mobile Devices
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- Key points
- PC and laptops the most frequently used channel to access banking facilities
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- Figure 18: How often consumers access banking facilities through different channels and means, by all demographics, NI and RoI, October 2013
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- Figure 19: Consumers accessing banking facilities via a PC/laptop at least once a week, by all demographics, NI and RoI, 2012-13
- 35-54s most likely to use PCs and laptops to access banking facilities
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- Figure 20: Consumers accessing banking facilities via a PC/laptop at least once a week, by gender and age, NI and RoI, 2012-13
- ATMs remain a key channel for Irish consumers
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- Figure 21: Consumers accessing banking facilities via an ATM at least once a week, by marital status, NI and RoI, October 2013
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- Figure 22: Consumers accessing banking facilities via an ATM at least once a week, by location and social class, NI and RoI, October 2013
- Smartphone banking shows only modest growth
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- Figure 23: Consumers accessing banking facilities via a smartphone at least once a week, by all demographics, NI and RoI, 2012-13
- Students and young professionals – the main smartphone bankers
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- Figure 24: Consumers accessing banking facilities via a smartphone at least once a week, by gender and age, NI and RoI, October 2013
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- Figure 25: Consumers accessing banking facilities via a smartphone at least once a week, by working status, NI and RoI, October 2013
- In-branch banking – a quarterly activity for a fifth of Irish consumers
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- Figure 26: Consumers accessing banking facilities in-branch once every two to three months, by gender and age, NI and RoI, October 2013
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- Figure 27: Consumers accessing banking facilities in-branch once every two to three months, by working status, NI and RoI, October 2013
- Low usage of telephone, text and postal banking
The Consumer – Means Irish Consumers Use to Access Banking Activities
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- Key points
- PCs, laptops and branches – the primary means of accessing bank services
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- Figure 28: Means used to access banking facilities, by all demographics, NI and RoI, October 2013
- PC and laptops – the main channel for balance enquiries
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- Figure 29: Consumers making balance enquiries via a PC/laptop, by gender and age, NI and RoI, October 2013
- Irish consumers also making balance enquires at ATMs
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- Figure 30: Consumers making balance enquiries via an ATM, by working status, NI and RoI, October 2013
- Financial advice most likely to be sought in-branch
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- Figure 31: Consumers seeking financial advice in-branch, by gender and age, NI and RoI, October 20013
- In-branch financial advice influenced by presence of children in household
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- Figure 32: Consumers seeking financial advice in-branch, by presence of children in the household, NI and RoI, October 20013
- One in ten consumers paying bills through smartphones
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- Figure 33: Consumers paying bills via a smartphone, by working status, NI and RoI, October 2013
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- Figure 34: Consumers paying bills via a smartphone, by presence of children in the household, NI and RoI, October 2013
- Money transfers still occurring in-branch
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- Figure 35: Consumers transferring money in-branch, by gender and age, NI and RoI, October 2013
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- Figure 36: Consumers transferring money in-branch, by working status, NI and RoI, October 2013
The Consumer – Attitudes towards Online and Mobile Banking
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- Key points
- Online and mobile banking seen as a convenient way to manage finances
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- Figure 37: Agreement with statements relating to online banking, by all demographics, NI and RoI, October 2013
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- Figure 38: Agreement with the statement ‘Online and mobile banking is a more convenient way to manage my personal finances’, by working status, NI and RoI, October 2013
- Online banking seen as very secure
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- Figure 39: Agreement with the statement 'Online banking is very secure', by gender and age, NI and RoI, October 2013
- Young consumers most likely to engage in mobile banking
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- Figure 40: Agreement with the statement 'Mobile banking isn't very secure', by gender and age, NI and RoI, October 2013
- Banks have work to do regarding security of contactless payments
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- Figure 41: Agreement with the statement 'Chip and PIN technology is more secure than contactless payments, by all demographics, NI and RoI, 2012-13
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- Figure 42: Agreement with the statement 'Chip and PIN technology is more secure than contactless payments, by working status, NI and RoI, October 2013
- Branches still a preferred banking channel
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- Figure 43: Agreement with the statement 'I prefer visiting branches for important financial issues (eg to arrange a mortgage/loan)', by location and social class, NI and RoI, October 2013
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- Figure 44: Agreement with the statement 'I prefer visiting branches for important financial issues (eg to arrange a mortgage/loan)', by working status, NI and RoI, October 2013
- Online-only providers increasingly popular with Irish consumers
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- Figure 45: Agreement with the statement 'I am happy to use a current account provider who can only be accessed online or by phone', by all demographics, NI and RoI, 2012-13
- NI students most likely to use online-only banks
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- Figure 46: Agreement with the statement 'I am happy to use a current account provider who can only be accessed online or by phone', by working status, NI and RoI, 2012-13
Appendix
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- NI Toluna data
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- Figure 47: Consumer ownership of current accounts, by all demographics, NI, October 2013
- Figure 48: Frequency consumers access banking facilities in-branch, by all demographics, NI, October 2013
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- Figure 49: Frequency consumers access banking facilities online via a PC/laptop, by all demographics, NI, October 2013
- Figure 50: Frequency consumers access banking facilities online via a smartphone, by all demographics, NI, October 2013
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- Figure 51: Frequency consumers access banking facilities online via a tablet computer, by all demographics, NI, October 2013
- Figure 52: Frequency consumers access banking facilities via telephone, by all demographics, NI, October 2013
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- Figure 53: Frequency consumers access banking facilities via text message, by all demographics, NI, October 2013
- Figure 54: Frequency consumers access banking facilities via post, by all demographics, NI, October 2013
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- Figure 55: Frequency consumers access banking facilities via an ATM, by all demographics, NI, October 2013
- Figure 56: Medium used to make a balance enquiry, by all demographics, NI, October 2013
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- Figure 57: Medium used to check a statement, by all demographics, NI, October 2013
- Figure 58: Medium used to pay bills, by all demographics, NI, October 2013
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- Figure 59: Medium used to transfer money, by all demographics, NI, October 2013
- Figure 60: Medium used to arrange standing order/direct debit, by all demographics, NI, October 2013
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- Figure 61: Medium used to order a cheque book/statement, by all demographics, NI, October 2013
- Figure 62: Medium used to seek financial advice, by all demographics, NI, October 2013
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- Figure 63: Medium used to arrange a loan by all demographics, NI, October 2013
- Figure 64: Medium used to arrange a mortgage, by all demographics, NI, October 2013
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- Figure 65: Agreement with statements relating to online banking, by all demographics, NI, October 2013
- Figure 66: Agreement with statements relating to online banking, by all demographics, NI, October 2013 (continued)
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- Figure 67: Agreement with statements relating to contactless card technology, by all demographics, NI, October 2013
- RoI Toluna data
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- Figure 68: Consumer ownership of current account, by all demographics, RoI, October 2013
- Figure 69: Frequency consumers access banking facilities in-branch, by all demographics, RoI, October 2013
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- Figure 70: Frequency consumers access banking facilities online via a PC/laptop, by all demographics, RoI, October 2013
- Figure 71: Frequency consumers access banking facilities online via a smartphone, by all demographics, RoI, October 2013
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- Figure 72: Frequency consumers access banking facilities online via a tablet computer, by all demographics, RoI, October 2013
- Figure 73: Frequency consumers access banking facilities via telephone, by all demographics, RoI, October 2013
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- Figure 74: Frequency consumers access banking facilities via text message, by all demographics, RoI, October 2013
- Figure 75: Frequency consumers access banking facilities via post, by all demographics, RoI, October 2013
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- Figure 76: Frequency consumers access banking facilities via an ATM, by all demographics, RoI, October 2013
- Figure 77: Medium used to make a balance enquiry, by all demographics, RoI, October 2013
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- Figure 78: Medium used to check a statement, by all demographics, RoI, October 2013
- Figure 79: Medium used to pay bills, by all demographics, RoI, October 2013
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- Figure 80: Medium used to transfer money, by all demographics, RoI, October 2013
- Figure 81: Medium used to arrange standing order/direct debit, by all demographics, RoI, October 2013
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- Figure 82: Medium used to order a cheque book/statement, by all demographics, RoI, October 2013
- Figure 83: Medium used to seek financial advice, by all demographics, RoI, October 2013
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- Figure 84: Medium used to arrange a loan by all demographics, RoI, October 2013
- Figure 85: Medium used to arrange a mortgage, by all demographics, RoI, October 2013
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- Figure 86: Agreement with statements relating to online banking, by all demographics, RoI, October 2013
- Figure 87: Agreement with statements relating to online banking, by all demographics, RoI, October 2013 (continued)
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- Figure 88: Agreement with statements relating to contactless card technology, by all demographics, RoI, October 2013
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